The surge in oil prices due to the Ukrainian war has pushed up inflation in India, which needs monetary tightening and measures to address structural weaknesses to improve growth potential, said a senior IMF official.

According to estimates, the country's economy is likely to grow at 8.2 per cent in 2022-23, down 0.8 per percentage points, said Anne-Marie Gulde-Wolf, Acting Director of the IMF's Asia and Pacific Department.

IT industry body Nasscom has appointed Krishnan Ramanujam, a senior executive at Tata Consultancy Services, as its Chairperson for 2022-23.

Krishnan was the Vice Chairperson of the body. He succeeds Accenture's Senior Managing Director in India Rekha M Menon, who had served as the Chairperson for 2021-22.

German sports car manufacturer Porsche said on Tuesday its sales in India grew 22 per cent to 188 units in the first quarter of the current calendar year, recording its best Q1 performance since 2013.

The brand's SUV range comprising Cayenne and Macan continue their success in India and remain the most sold models in the range, the company said in a statement.

Australia expects to sign a Comprehensive Economic Cooperation Agreement (CE­PA) with India by the year-end, which will include a deal on digital trade that it said will further facilitate bilateral trade.

“Australia will also seek improved access for service suppliers, and modern investor protections to increase investor confidence and drive investment, with appropriate safeguards for governments’ rights to regulate. An agreement co­uld facilitate digital trade by including modern and forward-looking rules which support the use of digital tools to enable trade,” according to the Australian government’s India Economic Strategy to 2035 update.

Seventy per cent of the people who received a booster dose of the Covid vaccine did not contract the disease during the third wave, according to a new study that covered around 6,000 people in India.

The study led by Dr Rajeev Jayadevan, co-chairman of the Indian Medical Association's national task force on coronavirus, said that 45 per cent of the vaccinated people who did not take a precautionary dose reported Covid in the third wave.

Reliance Industries (RIL) and the Abu Dhabi Chemicals Derivatives Company RSC (TA’ZIZ) on Tuesday signed a shareholder agreement for a chemical project in Ruwais, Abu Dhabi.

The development acquires significance as it will focus on chlor-alkali, ethylene dichloride (EDC) and polyvinyl chloride (PVC) production, which is used in a wide range of industrial applications. This is expected to unlock new revenue streams for RIL as well as the Abu Dhabi National Oil Company (ADNOC) and ADQ, an Abu Dhabi-based investment and holding company, who are strategic partners in TA’ZIZ, a joint venture company.

Actlogica, a wealth and investment management platform, has raised Rs 3 crore in seed funding from Zerodha-backed Rainmatter Capital.

The husband-wife duo of Ameet Ayare and Archana Anoor founded Actlogica in 2015 to aid wealth managers and investment management professionals. Investment managers, to maintain their businesses, need the support of various tools. Not just to monitor and take evasive actions against market movements, but also to ensure they are compliant with regulations and, most importantly, to build a sustainable business.

The global coronavirus caseload has topped 510.1 million, while the deaths have surged to more than 6.22 million and vaccinations to over 11.24 billion, according to the Johns Hopkins University.

In its latest update on Tuesday morning, the University's Center for Systems Science and Engineering (CSSE) revealed that the current global caseload and the death toll stood at 510,191,435 and 6,220,536, respectively, while the total number of vaccine doses administered increased to 11,246,449,964.

Delhi on Tuesday recorded a minimum temperature of 24.9 degrees Celsius, one notch above the normal, according to the India Meteorological Department.

The maximum temperature is expected to hover around 42 degrees Celsius.

Shares of Meghmani Finechem hit a record high of Rs 1,469.55 on rallying 14 per cent on the BSE in Tuesday’s intra-day trade. The stock has zoomed 28 per cent in the past two trading days after the company reported a robust operating and financial performance for March quarter (Q4FY22). In the past seven weeks, the stock of the specialty chemicals has zoomed 91 per cent from a level of Rs 771 on March 7, 2022.

In Q4, the company’s profit after tax (PAT) tripled to Rs 99 crore from Rs 33 crore in previous year quarter, on the back of strong sales.

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